BIMTECH hosts summit on SMEs

The Small and Medium Enterprises (SME) sector is called the backbone of the Indian economy.
To bridge the knowledge gap between Indian SMEs and the government policies, Birla Institute of Management Technology (BIMTECH), Greater Noida organized SMEs Summit 2008 on the theme 'Indian SMEs In Exports' on February 2 in Delhi. The Summit was inaugurated by Ashwani Kumar, Minister of State for Industry, Govt. of India.

The summit highlighted the Indian SME sector about the policies, which have been formed by the government and how the SMEs can use them for their benefit. It also brought out key aspects on how to increase the capability of Indian SMEs and to provide right information to move ahead in the global arena. Inaugurating the Summit, Chief Guest, Sh. Ashwani Kumar, Minister of State for Industry said, "When the Indian economy is currently growing at 9% and the future growth expected more or less on the same line, the Micro, Small and Medium Enterprises (SME) will give all thrust of development to make India the 3rd largest economic power by 2025 overtaking Germany."

The summit involved three plenary sessions included themes like Governmental infrastructure and institutional framework, environmental and social issues, sector specific issues and financial issues from SME viewpoint.

The speakers on the occasion included Dr. H. Chaturvedi, Director BIMTECH, Dr. R K Dhawan, chairman FIEO northern region, Mr. Jawhar Sircar, Additional Secretary, ministry of industry and commerce, Mr. Bikki Khosla, CEo, Tradeindia.com, Mr. Kishore Balaji, Microsoft India Ltd and Dr. H.P. Kumar, Chairman & MD, NS.

On the occasion, Dr. H. Chaturvedi, Director BIMTECH said, "SMEs sector has tremendous potential. The capabilities of SMEs to compete in the International markets is reflected in its share of about 35% in the national exports, but this sector is still held back from achieving its full potential because of various problems, such as lack of information and awareness."

Dr. Dhawan pointed out some of the challenges facing the SMEs in terms of finance, quality up gradation and taxation where he requested the intervention of government.
Mr. Sircar highlighted on slew of policy initiatives, which the government is planning to come out with in the three most important areas as presented above.